NeuroVive: Interim report 1 Jan. 2014 till 31 Mar. 2014

Successful rights issue and final patient treated in phase III study on CicloMulsion®

First quarter (1 Jan. 2014 – 31 Mar. 2014)

  • Net revenues were SEK 0 (0) and other operating income was SEK 43,000 (704,000).
  • Loss before tax was SEK -9,877,000 (-4,739,000).
  • Earnings per share* were SEK -0.39 (-0.24).
  • Diluted earnings per share** were SEK-0.39 (-0.24).

* Profit/loss for the period divided by the average number of shares before dilution at the end of the period.’
**Profit/loss for the period divided by the average number of shares after dilution at the end of the period.

Business highlights in 2014

The first quarter

  • On 31 January, NeuroVive notified the market that its rights issue was 270% oversubscribed. A decision to fully exercise the overallocation option was communicated simultaneously. The rights issue raised the company some SEK 75.8 m, and the overallocation option raised SEK 10.0 m. Accordingly, NeuroVive raised a total of some SEK 85.8 m before issue expenses.
  • The final patient in the European phase III study on CicloMulsion® was treated in February.
  • NeuroVive subsidiary NeuroVive Pharmaceutical Asia Ltd., whose registered office is in Hong Kong, signed a collaboration agreement with Yuanta Securities Co. Ltd. This deal is the first step in a process towards listing NeuroVive’s subsidiary on the Taiwanese stock exchange.
  • NeuroVive’s anti-viral preclinical program on NVP018 has generated data demonstrating that NVP018 has the potential to become a therapy alternative or adjuvant to current pharmaceuticals for treating chronic hepatitis B infection. 

Post balance sheet events

  • On 17 April, NeuroVive demonstrated the company’s work on energy regulation at cellular level. This project is designated NVP015 the Amber Project in-house. An extensive patent filing for the compounds and their potential application was published in the World Intellectual Property Organization’s (WIPO) database on 10 April.

Read the interim report attached below

NeuroVive Pharmaceutical AB (publ) is obligated to publish the information contained in this press release in accordance with the Swedish Securities Market Act. This information was provided to the media for publication at 13:00 CEST on May 9, 2014.